Sizzle Acquisition

Sizzle Acquisition Corp. is a publicly traded American special purpose acquisition company (SPAC) headquartered in Washington, D.C. Founded in October 2020, the company raised $155 million in a November 2021 initial public offering (IPO).[1]

Sizzle Acquisition Corp.
Sizzle Acquisition
TypePublic
Industry
FoundedOctober 12, 2020 (2020-10-12)
Headquarters
Washington, D.C., U.S.
Key people
  • Steve Salis (CEO)
  • Daniel Lee (Chief Financial Officer)
Websitesizzlespac.com/home/default.aspx

History

The company was founded in October 2020 by Steve Salis, who is also the current CEO and chairman of the firm.[1] Other key figures in the management team include Jamie Karson, Nestor Nova, and Daniel Lee. The board of directors consists of Karen Kelley, David Perlin, and Warren Thompson.[2]

The firm specializes in the restaurant, hospitality, food and beverage, retail, consumer, food-related technology, and real estate sectors. It primarily aims at mergers, capital stock exchanges, asset acquisitions, and reorganizations with one or more businesses.[3][4]

Sizzle Acquisition Corp. went public in November 2021, raising a total of $155 million.[5]

Merger with European Lithium Ltd.

In 2023, Sizzle Acquisition Corp. announced a strategic merger with a unit of European Lithium Ltd. (ASX: EUR) to form Critical Metals Corp.[6][7] This new entity will focus on the development of a sustainable source of lithium hydroxide to meet the needs of European battery and EV manufacturers.[8]

Critical Metals is primarily involved in the development of the Wolfsberg Lithium Project in Carinthia, Austria. The project aims to start lithium hydroxide production by 2026 and expects to supply about 10,500 metric tons of lithium annually.[9] Wolfsberg is projected to be the first major source of battery-grade lithium in Europe, potentially supporting the production of nearly 200,000 electric vehicles per year.[10]

References
  1. "SZZL | Sizzle Acquisition Corp. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2023-09-27.
  2. "Sizzle Acquisition Corp. Announces Change of Date of Special Meeting of Stockholders to February 2023".
  3. "Check out Sizzle Acquisition Corp's stock price (SZZL) in real time". CNBC. Retrieved 2023-09-27.
  4. "With 53% ownership, Sizzle Acquisition Corp. (NASDAQ:SZZL) boasts of strong institutional backing". simplywall.st. 2023-02-08. Retrieved 2023-09-27.
  5. "Sizzle CEO Steve Salis discusses $155M SPAC's targets". Nation's Restaurant News. 2021-11-17. Retrieved 2023-09-27.
  6. "Join Europe's Energy Transition as Critical Metals Corp. Supplies EVs with Lithium – IPO Edge". ipo-edge.com. Retrieved 2023-09-27.
  7. Ramkumar, Amrith (2022-10-24). "Upstart European Lithium Is Valued at $970 Million in Deal for U.S. Listing". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-09-27.
  8. "European Lithium to merge with Sizzle Acquisition to form exploration firm". Reuters. 2022-10-26. Retrieved 2023-09-27.
  9. "Europe's First Lithium Mine Agrees to Merge With Sizzle SPAC". Bloomberg.com. 2022-10-24. Retrieved 2023-09-27.
  10. Durrani, Desiree (2022-10-26). "European Lithium (ASX:EUR) to merge with Sizzle to form Critical Metals Corp". The Market Herald. Retrieved 2023-09-27.
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